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San Jose

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A longstanding legal battle over sunken treasure appears to be no closer to resolution after the Colombian Supreme Court ruled that the estimated two billion dollars worth of treasure aboard the Spanish galleon, San José, that went down in sea battle with English ships near Cartagena in 1708, and found in 1982, belongs to the Colombian state. Sea Search Armada, a Cayman Islands based salvage company financed by 100 private investors claims an agreement reached with the Colombian government in 1979 gives them rights to half of any gold, silver, or artifacts that are recovered from the still yet unverified resting place.

Most experts agree that the exceptionally large booty of gold, silver, and Colombian emeralds is the richest treasure find ever. We may never know for sure, but many archaeologists are dying to see what fine relics might be retrieved from the depths. We may see some of the biggest and finest emeralds ever make their way into museums and collections if salvage work ever does begin.

blan

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